Quote:
Originally Posted by scho63
How can you put 25% into your 401K as the limit is 15%?  |
The limit isn't 15%. If I'm not mistaken, the limit is based on a contribution amount. I was told by Fidelity, who runs the 401k plan for the company I work for, that I couldn't contribute more than $18,000 per year. That works out to about 9% of my gross salary so I have 9% contributed to my 401k with a 100% employer match. Someone who makes less can obviously contribute at a higher percentage and someone over 50 years old can contribute more because there is a catch-up contribution clause.